Form 4: Zevia PBC Executive Lorna R. Simms Sells Shares to Cover Tax Obligations
SEC Form 4
Lorna R. Simms, SVP, GC & Corporate Secretary of Zevia PBC, sold 5,120 shares of Class A Common Stock to cover tax liabilities related to the settlement of restricted stock units (RSUs).
Summary
- On March 25, 2024, Lorna R. Simms, SVP, GC & Corporate Secretary of Zevia PBC, sold 5,120 shares of Class A Common Stock.
- The sale was executed to cover tax obligations associated with the settlement of 15,506 restricted stock units (RSUs).
- The shares were sold at a weighted average price of $1.0429, with individual transactions ranging from $1.035 to $1.06.
- Following the transaction, Simms beneficially owns 232,993 shares, including 192,651 RSUs.
- Of the RSUs, 17,334 are vested with deferred settlement on January 17, 2025, while others vest in increments on anniversary dates.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects a routine transaction for tax purposes, not necessarily indicative of the executive's view on the company's future performance.
Industry Context
This is a routine Form 4 filing, indicating insider activity related to stock compensation and tax obligations. It's common for executives to sell shares to cover taxes upon vesting of RSUs.
Key Dates
| Date | Description |
|---|---|
| March 17, 2022 | Date when 18,140 RSUs began vesting in 1/4 increments on each anniversary. |
| March 17, 2023 | Date when 43,885 RSUs began vesting in 1/4 increments on each anniversary. |
| March 11, 2024 | Date when 133,333 RSUs begin vesting in 1/4 increments on each anniversary. |
| March 25, 2024 | Date of the stock sale transaction. |
| March 27, 2024 | Date of signature on the Form 4. |
| January 17, 2025 | Deferred settlement date for 17,334 vested RSUs. |
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